Dada Group Celebrates Initial Public Offering on the Nasdaq Stock Exchange
June 05 2020 - 12:09PM
Dada Group (“Dada” or the “Company”), China’s leading local
on-demand delivery and retail platform, today began trading on the
Nasdaq Stock Exchange under the ticker symbol “DADA” following its
initial public offering.
To commemorate this corporate milestone, the
Company held a special listing day event at Shanghai Tower, the
tallest building in China and the second tallest in the world,
drawing attendance from its Board of Directors, retail and brand
partners, investors, riders, employees and media correspondents. As
part of the event, Founder, Chairman and Chief Executive Officer of
Dada Group, Phillip Kuai delivered a speech and held a countdown to
the market’s opening. Seven members of Dada’s management team
participated in a virtual bell ringing ceremony at the opening of
the Nasdaq Stock Exchange that was broadcast live from Nasdaq’s
MarketSite Tower in Times Square, showcasing the Company on a
seven-story LED screen in the heart of New York City.
Dada Group is a leading platform of local
on-demand retail and delivery in China. It operates JDDJ, one of
China’s largest local on-demand retail platforms by GMV in 2019,
and Dada Now, a leading local on-demand delivery platform in China
by number of orders in 2019, according to the iResearch. There was
an increase in demand for Dada’s services during the COVID-19
outbreak as more and more people shopped for daily necessities
online, such as groceries, fresh produce, healthcare and household
products during this period.
“We are proud to celebrate this important
milestone in Dada’s history at a time when our services are more
essential than ever before,” said Philip Kuai, Founder, Chairman
and Chief Executive Officer of Dada Group. “Since day one, our goal
has been to bring people everything on demand, and as we’ve
expanded our business, our goal has remained the same. Now, just
days from the Company’s sixth birthday, we have taken a significant
step forward in our ability to boost the innovation revolution in
China’s retail industry and offer a more efficient and convenient
shopping experience for our customers. Our association with the
Nasdaq Stock Exchange raises our Company's profile in the capital
markets and provides new financial tools to continue to fuel our
strong growth trajectory as we drive long-term value for our
shareholders.”
Mr. Kuai continued, “We’d like to thank all of
our business partners, customers, riders, employees and investors
who have helped us get to where we are today, and especially
acknowledge those existing and new investors who have pledged their
support for our vision with participation in today’s listing. I am
incredibly proud of what Dada has achieved and look forward to
continuing to capitalize on the opportunities ahead.”
“We congratulate Dada Group on its successful
listing on the Nasdaq,” said Zhenhui Wang, Senior Executive Vice
President of JD.com, Chief Executive Officer of JD Logistics and
member of the Company’s Board of Directors, who was also in
attendance at the listing day event. “We are committed to
supporting the Company in the years to come and believe it is
well-positioned for continued success. During the COVID-19
pandemic, Dada has been able to flex its services to meet
unprecedented demand and its resilience and strong performance in
recent months is a testament to the strength of the model the
Company has built.”
Zhiyu Chen, SVP of Walmart China, added, “Since
our initial investment in Dada Group nearly four years ago, we have
continued to recognize the potential of Dada’s unique and
innovative approach to solving the last mile. We are excited to
participate in today’s listing and see compelling opportunities for
Dada to further expand and execute on its accelerated growth
strategy. We look forward to continuing to build on our strong
partnership in the years to come.”
About Dada Group
Dada Group is a leading platform of local
on-demand retail and delivery in China. It operates JDDJ, one of
China’s largest local on-demand retail platforms for retailers and
brand owners, and Dada Now, a leading local on-demand delivery
platform open to merchants and individual senders across various
industries and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Dada’s beliefs, plans
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; NIO’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
Media Contacts
Dada GroupE-mail: PR@imdada.cn
Joele Frank, Wilkinson Brimmer KatcherEd Trissel
/ Jon Keehner / Kate ThompsonPhone: 212-355-4449E-mail:
kthompson@joelefrank.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ec9fac32-6e34-41db-a3a5-e942c7bc2679
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